Chinese exports to Brazil rise 50 pct in first half of 2006

18 August 2006

Sao Paulo, Brazil, 18 Aug – Chinese exports to Brazil rose 50.5 percent in the first six months of this year, against the same period of 2005, to US$4.15 billion, officials said Friday.

In the same period, Brazilian exports to China increased by 35.46 percent, to US$4.73 billion, the Brazilian Ministry of Development, Industry and Commerce.

From January to June of this year, the balance of trade between the two countries was once again favourable for Brazil by US$579 million, after a period of deficit.

China mainly sold electronic products, machines, optical equipment and instruments and bought soy, iron ore and oil from Brazilian companies.

The increased Chinese sales to Brazil followed overall growth of foreign imports to Brazil in the period under review.

From January to July this year total Brazilian imports increased 23.3 percent to US$49.4 billion, against the same period of 2005.

Brazilian exports increased 15.11 percent to US$74.5 billion in the period.

Specialists have said that the rise in imports was a result of increased industrial activity and a rise in the value of Brazil’s currency, which made it cheaper to import certain products than to produce them in Brazil.

Last year, total trade between Brazil and China rose 33 percent to US$12.18 billion, against 2004, with Brazil posting a surplus of US$1.48 billion. (macauhub)